Lauded for meeting or exceeding ASBO’s standards for financial reporting and accountability
By John Tredrea, Special Writer
The Hopewell Valley Regional School District’s Business Office has been recognized for excellence in financial reporting.
The award — from the Association of School Business Officials (ASBO) International — was given for meeting or exceeding ASBO’s standards for financial reporting and accountability.
The award was for the office’s Comprehensive Annual Financial Report for the fiscal year ending in 2012.
”We’re thrilled to recognized by ASBO International with this award, which is a real indication of the hard work of all of the members of the Business Office staff,” said district Business Administrator Robert Colavita.
It was the first time the office had applied for the award with submission of their annual report. Mr. Colavita, who also is the board’s secretary, said he intends to reapply each year.
”This award can serve to give the community real peace of mind that the school district finances are being run effectively and efficiently,” he noted.
”We are so pleased our district was recognized” with this award, said Hopewell Valley Regional Board of Education President Lisa Wolff. “Our board is proud of the best practices utilized and encouraged by the business office and this award is a tribute to Robert Colavita’s leadership.”
In addition, “this award represents a very significant achievement and reflects a commitment to the highest standards of school system financial reporting and accountability,” Ms. Wolff said.
”The award is especially noteworthy because this is the first year our school district has participated in the program . . . and it confirms the school business office’s commitment to financial accountability and transparency,” Ms. Wolff added.
Recognition through the program can help strengthen a district’s presentation for bond issuance statements and promotes a high level of financial reporting.
The Association of School Business Officials International (ASBO), founded in 1910, is a professional association of more than 5,000 members that provides programs and services to promote the highest standards of school business management practices, professional growth, and the effective use of educational resources.